Sunoco LP (SUN) To Go Ex-Dividend on November 6th

Sunoco LP (NYSE:SUN) announced a quarterly dividend on Thursday, October 22nd. Investors of record on Friday, November 6th will be given a dividend of $1.0148 per share by the oil and gas company on Thursday, November 19th. This represents a $4.06 dividend on an annualized basis and a yield of 5.5%. The ex-dividend date of this dividend is Friday, November 6th. This is a 1.2% increase from Sunoco’s previous quarterly dividend of $1.0023.

Sunoco has a dividend payout ratio of 70.9% meaning its dividend is sufficiently covered by earnings. Analysts expect Sunoco to earn $8.76 per share next year, which means the company should continue to be able to cover its $4.00 annual dividend with an expected future payout ratio of 45.7%.

Sunoco Price Performance

Shares of Sunoco stock opened at $73.47 on Friday. The stock has a market capitalization of $15.05 billion, a price-to-earnings ratio of 16.25 and a beta of 0.43. The company has a fifty day moving average of $75.22 and a 200-day moving average of $71.01. Sunoco has a 52-week low of $49.98 and a 52-week high of $80.22. The company has a debt-to-equity ratio of 1.95, a quick ratio of 0.83 and a current ratio of 1.29.

Sunoco (NYSE:SUN) last posted its quarterly earnings results on Tuesday, August 4th. The oil and gas company reported $0.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.50 by ($1.56). Sunoco had a net margin of 2.88% and a return on equity of 18.78%. The business had revenue of $14.26 billion for the quarter, compared to analysts’ expectations of $11.05 billion. During the same quarter in the previous year, the company earned $0.33 earnings per share. The business’s quarterly revenue was up 164.5% on a year-over-year basis. Equities research analysts expect that Sunoco will post 8.13 EPS for the current year.

Analyst Upgrades and Downgrades

SUN has been the subject of a number of recent research reports. JPMorgan Chase & Co. assumed coverage on Sunoco in a research note on Tuesday. They issued an “overweight” rating and a $87.00 target price for the company. Wall Street Zen lowered Sunoco from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Wells Fargo & Company lifted their price target on Sunoco from $77.00 to $82.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 5th. Citigroup boosted their price objective on Sunoco from $73.00 to $81.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Sunoco in a research report on Tuesday, August 18th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $79.75.

Sunoco Company Profile

Sunoco LP (NYSE:SUN) is a master limited partnership focused primarily on the distribution and wholesale marketing of motor fuels. The company supplies gasoline, diesel and other refined products to independent fuel retailers, commercial customers, distributors and other end users, including customers operating under the Sunoco brand.

Sunoco’s operations include fuel terminals, pipelines, transportation assets and other logistics infrastructure used to receive, store, blend and deliver petroleum products.